The project was launched to bolster transportation and communication links between Europe and Asia through rail and shipping networks and is seen as a counter to China's Belt and Road Initiative. The memorandum of understanding document has only mapped out the potential geography of a corridor and will compete against the current trade route going through the Suez Canal.[8]
The project had been delayed due to the ongoing Israel–Hamas war.[9][10] The route is currently being used to bypass the Houthi blockade[11] and is widely seen as a way to future proof the India-Europe-US supply chain avoiding the Suez canal.[12] In June 2024, the Indo-Mediterranean Initiative (IMI) was started, aiming to track the progress of IMEC.[13]
IMEC got a new lease and enthusiasm has returned to the project during Indian Prime Minister Narendra Modi's first visit to the White House after the inauguration of President Donald Trump. "We agreed to work together to help build one of the greatest trade routes in all of history. It will run from India to Israel to Italy and onward to the US, connecting our partners, roads, railways and undersea cables, many many undersea cables." said the US President.[14]
During European Commission President Von der Leyen's visit to India on Feb 27-28 2025, both leaders agreed on the importance of IMEC, the excerpt of the joint statement read: "Undertake concrete steps for the realization of the India-Middle East-Europe Economic Corridor (IMEC) announced during the G20 Leaders' Summit in New Delhi, ..."[15]
There has been healthy competition between European countries for IMEC's European terminal with France (Marseilles[16]), Greece (Pireus/Thessaloniki[17]) and Italy (Trieste[18]) being candidates.
In September 2023, Turkish president Recep Tayyip Erdogan criticised the project for bypassing Turkey, and has vowed for an alternative route, the "Iraq Development Road Project", which is envisaged to connect the Persian Gulf with Europe through a railway and highway via ports in the United Arab Emirates, Qatar, and Iraq, including the under-construction Grand Faw Port.[19]
However, IMEC is viewed positively by participating countries, with expectations to foster economic development, enhance connectivity, and potentially rebalance trade and economic relations between the EU and China.[20] Saudi Arabia and the UAE, for instance, view IMEC not as a challenge to China but as an opportunity to diversify their economies and strengthen their positions as inter-regional connectivity hubs. This aligns with their broader economic visions and the desire to maximize their geopolitical influence across Asia and Europe.[21][22]
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